Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Mueller Water Products, a filing with the SEC revealed that on Tuesday, Director Brian C. Healy bought 1,183 shares of MWA, for a cost of $25.33 each, for a total investment of $29,965. Investors can grab MWA at a price even lower than Healy did, with the stock trading as low as $24.79 in trading on Friday which is 2.1% under Healy's purchase price. Mueller Water Products is trading up about 0.9% on the day Friday. Before this latest buy, Healy purchased MWA on 3 other occasions during the past twelve months, for a total investment of $85,061 at an average of $25.31 per share.
And on Wednesday, CEO Christopher A. Caldwell bought $21,250 worth of Concentrix, buying 1,000 shares at a cost of $21.25 a piece. Before this latest buy, Caldwell bought CNXC on 6 other occasions during the past year, for a total cost of $280,881 at an average of $40.13 per share. Concentrix is trading up about 1.3% on the day Friday.
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